Milestones Administradora de Recursos Ltda. lowered its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 24.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 146,525 shares of the information services provider's stock after selling 47,310 shares during the quarter. Alphabet makes up approximately 9.7% of Milestones Administradora de Recursos Ltda.'s portfolio, making the stock its 4th biggest position. Milestones Administradora de Recursos Ltda.'s holdings in Alphabet were worth $24,301,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of GOOGL. China Universal Asset Management Co. Ltd. increased its holdings in shares of Alphabet by 70.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 101,230 shares of the information services provider's stock valued at $15,279,000 after purchasing an additional 41,880 shares during the period. Quent Capital LLC lifted its holdings in shares of Alphabet by 3.6% in the 1st quarter. Quent Capital LLC now owns 31,171 shares of the information services provider's stock valued at $4,705,000 after buying an additional 1,072 shares during the period. Baron Silver Stevens Financial Advisors LLC boosted its stake in shares of Alphabet by 9.5% in the first quarter. Baron Silver Stevens Financial Advisors LLC now owns 10,325 shares of the information services provider's stock valued at $1,558,000 after buying an additional 898 shares in the last quarter. Magnolia Capital Advisors LLC grew its holdings in Alphabet by 12.6% during the first quarter. Magnolia Capital Advisors LLC now owns 20,123 shares of the information services provider's stock worth $3,101,000 after acquiring an additional 2,259 shares during the period. Finally, Pacific Wealth Strategies Group Inc. raised its position in Alphabet by 2.6% in the first quarter. Pacific Wealth Strategies Group Inc. now owns 23,391 shares of the information services provider's stock worth $3,530,000 after acquiring an additional 595 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.
Alphabet Stock Up 0.7 %
Shares of NASDAQ GOOGL traded up $1.27 during midday trading on Tuesday, reaching $181.62. 25,122,860 shares of the company's stock were exchanged, compared to its average volume of 27,119,752. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a 52-week low of $127.90 and a 52-week high of $191.75. The business's fifty day moving average price is $163.88 and its two-hundred day moving average price is $169.91. The stock has a market capitalization of $2.22 trillion, a PE ratio of 23.84, a price-to-earnings-growth ratio of 1.27 and a beta of 1.03.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same period in the prior year, the company posted $1.55 EPS. Analysts forecast that Alphabet Inc. will post 7.99 EPS for the current year.
Alphabet Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet's payout ratio is currently 10.61%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on GOOGL shares. Seaport Res Ptn upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 29th. UBS Group upped their target price on Alphabet from $200.00 to $204.00 and gave the company a "neutral" rating in a report on Wednesday, July 24th. BMO Capital Markets reiterated an "outperform" rating and issued a $217.00 price objective (up from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Bank of America raised their target price on shares of Alphabet from $206.00 to $210.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Finally, KeyCorp upped their price target on shares of Alphabet from $200.00 to $215.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus target price of $205.90.
Read Our Latest Research Report on GOOGL
Insider Activity
In related news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Prabhakar Raghavan sold 34,257 shares of the firm's stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total value of $3,772,350.00. Following the transaction, the chief executive officer now directly owns 2,159,885 shares of the company's stock, valued at $362,126,319.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 241,752 shares of company stock worth $40,156,829. 11.55% of the stock is currently owned by corporate insiders.
Alphabet Profile
(
Free Report)
Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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